First Resources

First Resources: Annouced that it has entered into a conditional sales and purchase agreement with Lynhurst Investment, that owns oil palm plantations and a CPO mill located at the West Kalimantan province, Indo. Lynhurst Investments owns the following: a) Oil palm plantations with a total site area of approximately 8,700 hectares; (b) Unplanted land bank with a total site area of approximately 11,500 hectares; and (c) A crude palm oil mill with capacity of 45 tonnes of fresh fruit bunches per hour. The consideration will be satisfied in cash. Acquisition is targeted to be completed by 31 Dec12. We note that as of the latest reporting date, grp has a total planted area of 136,434 ha, with 10 CPO mills with a total capacity of 585 tons.